I used to use NRI banking facilities of HDFC bank to send money to my parents in India when I was a permanent resident. I stopped using it when I became a citizen and briefly considered closing the account as I was sure it was not meant for foreigners (which is what I technically was at that point). However, I just kept the account dormant and never used it. Now that I have OCI status (since the past 3 months), is it legal to use this again to transfer money? What do you guys do to transfer money?
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OCI Status and NRI Banking
- Thread starter BadKarma
- Start date
I used to use NRI banking facilities of HDFC bank to send money to my parents in India when I was a permanent resident.
I stopped using it when I became a citizen and briefly considered closing the account as I was sure it was not meant for foreigners (which is what I technically was at that point).
------------ Why did you close NRI account(NRI or NRO)? Even if you got US citizenship you CAN keep NRE or NRO account. you just need to update the bank by sending copy of US passport and Copy of OCI. For bank it is same for PIO or NRI as you had Indian passport in past.
However, I just kept the account dormant and never used it.
------------Send the documents and make a request by letter to make that account Active. You can write to bank and can ask what they need from you.
Now that I have OCI status (since the past 3 months), is it legal to use this again to transfer money? What do you guys do to transfer money?
-------------You can use that account but account must be Active. Ask them what they need from you to make the account Active.
FYI one of my friend was in similar situation and he wrote to HDFC bank and they send him form by Email and then he signed the form and sent them copy of US passport and Copy of OCI pages and they made his account Active.
*****Update us what the bank asks to make the account ACTIVE so that others in similar situation know.
NRI accounts are NOT tied to your current citizenship or OCI/PIO status. Your NRI account stays valid even after you acquire citizenship of another country. NRI accounts can be opened/operated by Indian citizens residing abroad or Persons of Indian Origin (PIOs) residing in India or abroad. For this purpose, person of Indian origin is defined as someone who once held an Indian passport and who is not a citizen of Pakistan or Bangladesh.
Please note that an OCI card or PIO card is NOT a requirement to open/operate an NRI account.
Contact the bank to re-activate your account. You might be charged some fee for re-activation.
Please note that an OCI card or PIO card is NOT a requirement to open/operate an NRI account.
Contact the bank to re-activate your account. You might be charged some fee for re-activation.
Sorry, I guess I did not make it clear: I never closed my account. I just stopped using it. Also, all I used on the HDFC website is something called QuickRemit which is just a means to wire money directly from my US bank account to an established beneficiary in India (who is required to have a regular HDFC checking/savings account in India - in this case, my dad).
@ginnu: In your friend's case, how did the HDFC people even know that he was no longer an Indian citizen (assuming that he had opened his account when he was an NRI)?
@ginnu: In your friend's case, how did the HDFC people even know that he was no longer an Indian citizen (assuming that he had opened his account when he was an NRI)?
--------------Sorry, I guess I did not make it clear: I never closed my account. I just stopped using it. Also, all I used on the HDFC website is something called QuickRemit which is just a means to wire money directly from my US bank account to an established beneficiary in India (who is required to have a regular HDFC checking/savings account in India - in this case, my dad).
@ginnu: In your friend's case, how did the HDFC people even know that he was no longer an Indian citizen (assuming that he had opened his account when he was an NRI)?
---------------HDFC bank did not know that he got US citizenship. He informed the bank. his account was not Active. HDFC sent form attached in his email that he submitted to HDFC to Activate the account and He also sent the US passport Copy+OCI copy.
***ICICI bank NRE account also becomes inactive if no transaction in 12 or 15 months and one need to send the Form to Activate the account. ICICI has better service as you can call them on toll free number and can ask the question or information but HDFC has no number to call them directly.
Harshit2014
New Member
NRI Banking | NRI Services
hey, Can you suggest me which bank would be preferd for NRI banking? Had gone through IDBI Bank NRI service or some other bank. As IDBI Bank offers basic NRI banking products like Non Resident Rupee Checking Account, Non Resident Rupee Term Deposits and Foreign Currency Non Resident Deposit. www.idbi.com/nri-banking.asp url for you to suggest me on this basis.
hey, Can you suggest me which bank would be preferd for NRI banking? Had gone through IDBI Bank NRI service or some other bank. As IDBI Bank offers basic NRI banking products like Non Resident Rupee Checking Account, Non Resident Rupee Term Deposits and Foreign Currency Non Resident Deposit. www.idbi.com/nri-banking.asp url for you to suggest me on this basis.
mogalgiddi
Registered Users (C)
I don't think getting a US citizen creates problems for the NRI account. I do have a SBI NRI account and have been operating it from US as a US citizen without any problems.